Home Forums Article Discussions HARP Mortgage Requirements [discussion]

This topic contains 53 replies, has 2 voices, and was last updated by  Katie 4 years ago.

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    please offer help to us. we have never been late with our mortgage payments . we owe a bout 500k and that is what the house is worth. it is owned by gmac.
    why cant we get help from anyone. we just want to refinance from 6.8 to the lowest possible…my husband’s income has been drastically disminished over 3 years. please help us.


    Lynn McCreary

    Stay away from PNC, we wasted 3 months and $400 on a refi, went to hell and back with all docs, etc and was told we were approved!!! In the 11th hour my credit was pulled for a 3rd time and my score dropped!!!! So, they said my rate would go to 5%!!! Go figure!! We are existing customers with PNC, never late and this is how we were treated!!!


    jeannie lorup

    appraisel came in last year @305. bal on 1st 369K 2nd 55K is a freddie mac mort great credit & good income can I get harp program ??



    I owe 153K on a primary loan and 122K on an equity loan. Appraisal around 240K. Payments are two plus years current.
    Does the HARP program eliminate the neg equity or just refi’s the whole amount?


    Rose Mary

    We were told today that once the HARP II refinance has been completed, our credit file will take a negative hit, because it will be noted as a loan modification. Is this true? And, is it true that the residence has to be your primary residence?


    It is not a modification it is a refinance program “Home Affordable Refinance Program” maybe they meant HAMP.



    I was told, due to the fact that my loan will be a stream-line loan, therefore an appraisal would have to b done. Although, my friends mentioned they didn’t have to get their home appraised. Is it a case -to case approach for the Harp program, or is it standard for every applicant?…


    Bernie Anderson

    I have a jumbo loan. ($950,000) Will this qualify for HARP?



    Mu loan is under Fannie Mae. I am not underwater. Can I still refi with HARP? Thanks


    Yes, as long as you meet the additional requirements.



    I paid 265 K for house. I put 30 K down. I now owe 217K. My home is now worth 130 K. My fixed interest rate is 6.35 percent. I am backed through Freddy Mac. I was with BofA and they sold it to Greentree. I pay a PMI and have never had a late payment on the mortgage. Green Tree said I would have to have paid off 20% of loan before I would qualify. She said 80 Grand but that does not come out right anyway….Regardless can I qualify? Does anyone know I keep getting the run around. BofA said they probably could in March and then sold my load to Green Tree and Green Tree says I am out of luck until I pay off more of the loan and the PMI falls off. Any ideas out there?


    Gene Dill

    I filled for bankruptcy and discharged back in Feb/2011. Never being late with the mortgage payments, before or after the Chapter 7, but my home worth $173K and the mortgage amount is $203K @ 6.75%.

    Do the HARP program also benefits people that filled for bankruptcy in the recent past? The M&T Bank (who bought my mortgage from Bank of America) said I couldn’t apply for the HARP 2.0 however I see no info on the matter here.

    Can you please help?

    Thanks in advance and Merry Christmas,



    It’s good to see someone thinking it tohrugh.


    Karen J Battle

    I would like someone to contact me, I am interested. I have a high interst rate, have been in my home 12 years. Income affected over the last six years, caring for father at home. Help!!!



    Currently overseas with one more year to go. Home is being rented out and underwater. Can we still “start” an FHA short refi if we plan on returning home next summer?


    Lucy Valles

    We are in active bankruptcy, do we still qualify or do we have to wait until we are discharged?


    Wayne Griffin

    There has to be a way around the ‘joint account’ condition! Why should I have to prove that the last 12 months were from my own funds when the debt/income ratio shows I can clearly cover the mortgage in the future AND why would I pay the other half of a mortgage for the other party that is legally responsible for it?? Has any ever gotten a waiver on this condition??


    Amy Herndon

    I was not approved for a HARP (1.0) refinance last year because I have PMI, however, all other aspects of my situation meet the standards. Is it possible that I would now qualify under HARP 2.0?



    I filed Chapter 7 May and discharged Sept.2011. My current Mortgage Everhome Bank is doing the HARP program for me and should close next wed.for a 4.125%. Other bank,mortgage said I had to wait 2 years after discharge. Check with your current Loaner and others as all is confusing. Good Luck.



    Lucy I have the exact same question. We are in chapter 13 and are coming down the home stretch of ending it. Do we qualify?

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